New York: The Best Place for Small Businesses

A recent study commissioned by Citigroup, and conducted by the Economist Intelligence Unit, found New York to be the most competitive city in the world, edging out London for the top honour.

With a Department of Small Business Services, a pro-growth/ pro-business environment, and an improving quality of life, it’s no wonder why New York City is considered the best place for small businesses. Mayor Bloomberg recently wrote that “talent attracts capital far more effectively and consistently than capital attracts talent.” To draw that talent, New York City has taken a multi-level approach: improving quality of life, investing in the future with development and infrastructure, and encouraging innovation and economic competitiveness.

Business Solution Centers

Today, there are NYC Business Solutions Centers located in all five boroughs of New York City, providing services at no cost to entrepreneurs and businesses of any size and at any stage. Business owners can find everything from help getting a loan to pro-bono legal assistance to marketing courses. The Business Solution Centers seem to be working: in 2011, NYC Business Solutions provided 12,600 services to 7,600 entrepreneurs and business owners in all five boroughs of the City. Their entrepreneur services, FastTrac NewVenture and GrowthVenture, had 2,000 enrolled “students” in 2009 and 36% of their alumni started their own businesses within 6 months of completing the program.

Making it Easier

Many up-start businesses are dissuaded by the legal requirements and regulations associated with many businesses. New York City has tried to make dealing with “red tape” a little bit easier. NYC Business Express is an online, one-stop resource where entrepreneurs can quickly and easily learn about licenses, permits, and other government requirements for doing business in New York City. The mayor also launched the New Business Acceleration Team to coordinate and streamline inspections from different agencies, saving many new businesses valuable time.

Cleaning up the Streets

New Yorkers understand that in order to attract customers, businesses need clean, safe neighborhoods. New York City’s 67 Business Improvement Districts (BIDs) are public/private partnerships that provide supplemental services like sanitation, security, marketing, beautification, special events and more to make the City’s commercial corridors great places to live, work, and enjoy.

Luckily, being located in New York City isn’t the only way to achieve business growth. MarketMAPS provides important data and maps to businesses, giving them a leg up in the competition. Offering accurate demographic data, postal maps, and traffic data from the most trusted sources, MarketMAPS assists businesses looking for the tools to help their companies grow. Whether you need a ZIP Code map for deliveries, a demographic map to locate your customers, or a county map to help you visualize your territories, MarketMAPS aids you in any area of your business affected by geography or demographics.